Morgunbladid reports that the number of real estate transactions decreased by 32.5 per cent in April compared to the previous month.
The president of the real estate agents association, Björn Thorri Viktorsson, claimed to Morgunbladid that prices were still rising. He said that most believed the market was slowing down but not to the degree suggested by the latest numbers. He said the Easter holidays had affected the number of transactions in April.
The total turnover in April amounted to ISK 16.8 billion in 613 transactions, ISK 10 billion in apartments, ISK 5 billion in houses and ISK 1 billion in other types of residential housing.
“We are back to needing several weeks or months to move a property, and that’s quite normal. A market where all properties sell within one or two weeks is not in balance,” said Björn Thorri.